The glittering rally of gold hit a massive speed bump on Friday, January 30, 2026. After reaching a historic peak of around ₹1.79 lakh per 10 grams (24K), gold prices have fallen across major Indian cities, with corrections ranging between ₹8,000 and ₹10,000 per 10 grams in one day.
The Current Price Landscape (Jan 30, 2026)
The "flash crash" has helped to relieve retail buyers, but left investors wondering whether the bubble has finally burst.
| City | 24K Gold (per 10g) | 22K Gold (per 10g) | Daily Drop (Approx) |
| Delhi | ₹1,70,620 | ₹1,56,400 | ↓ ₹8,230 |
| Mumbai | ₹1,70,620 | ₹1,56,400 | ↓ ₹8,230 |
| Bangalore | ₹1,70,620 | ₹1,56,400 | ↓ ₹8,230 |
| Chennai | ₹1,74,380 | ₹1,59,850 | ↓ ₹8,900 |
Prices are indicative and may vary based on local taxes and jewelry making charges.
Why Is Gold Falling Today?
As with the euro, Warsh is viewed as "hawkish," resulting in a stronger US dollar and higher Treasury yields, which typically makes gold less attractive. Aggressive Profit Booking: In January alone gold prices had surged by nearly 20%. Traders who entered at lower levels are now "cashing out," naturally leading to downward pressure on the Multi Commodity Exchange (MCX). Domestic Pacing: Following a record-setting Thursday (Jan 29), Indian retail demand cooled as buyers waited to see a correction, an attitude that often feels like a self-fulfilling prophecy for lower prices.
The Big Question: Buy, Sell, or Wait?
1. Should You BUY?
Yes, for long-term investors. Market experts like from Kotak Securities and Goldman Sachs are still keeping their focus on the bullish 2026 outlook, with goals in fact as high as ₹1.85 lakh to ₹2 lakh per 10 grams for the year-end. The dip of ₹8,000+ is deemed as “a healthy correction” and an entry point for those who missed the previous rally.
2. Should You SELL?
Only when you need instant liquidity. (As someone who bought gold a few years ago ₹60,000 to ₹70,000 you are still sitting on enormous gains.) But now, selling in a panic during a correction could risk missing the next possible leg of the bull run.
3. Should You WAIT?
Wait if you are a short-term trader. Due to U.S. political shifts, the market is volatile at the moment. Waiting for price to stabilize at ₹1.65 lakh – ₹1.68 lakh support level may seem a better time that perhaps would be safer to hold to before making a new approach.
Expert Opinions
"Based on geopolitical tensions and central bank buying, the structural trend for gold stays intact." The crash of today is more about dollar strength and technical profit-taking than from changes to gold’s fundamental value.” Commodity Market Analyst.
